Oscar-winning VFX studio Rhythm & Hues has been acquired out of bankruptcy by Los Angeles-based Prana Studios. Prana is a U.S. animation and visual effects studio with offices in Los Angeles and Mumbai, India.
Prana's Senior VP of VFX Jeffrey A. Okun says R&H will "remain a stand-alone company focusing on cutting-edge visual effects and innovative technology". They will, however, be "complimented by Prana's world-class long-form animation."
Rhythm & Hues made headlines earlier this year as a textbook example of how difficult it is to succeed in the cutthroat world of visual effects animation these days. The company had to file for bankruptcy under Chapter 11 in mid-February. A few weeks later it won the visual effects Oscar for their work on "Life of Pi."